Regulatory Alerts2017-03-28 | CD-SIBOIF-991-1-MAR28-2017Added · Updated
Norm Reforming Article 33 of the External Audit Standard
The Superintendence of Banks and Other Financial Institutions amended Article 33 of the Standard on External Audit to align financial statement publication requirements with International Standards on Auditing. Financial institutions must now publish specific components of their Audited Financial Statements in La Gaceta and a national newspaper, including a footnote identifying the auditing firm and confirming Board and Shareholders' Meeting authorization. The amendment mandates that institutions maintain complete audited reports on their websites for at least five years and provide links to consolidated reports for financial groups. This resolution entered into force upon its notification on March 28, 2017.
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